Blue Foundry Bancorp (NASDAQ:BLFY) Trading Down 1.4% – Time to Sell?

Blue Foundry Bancorp (NASDAQ:BLFY)’s stock price dropped 1.4% during mid-day trading on Tuesday . The stock traded as low as $9.74 and last traded at $9.75. Approximately 37,566 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 48,902 shares. The stock had previously closed at $9.89.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their target price on Blue Foundry Bancorp from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, January 30th.

Blue Foundry Bancorp Stock Performance

The company’s fifty day simple moving average is $9.67 and its 200 day simple moving average is $10.23. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $222.26 million, a price-to-earnings ratio of -17.41 and a beta of 0.63.

Blue Foundry Bancorp (NASDAQ:BLFY) last announced its quarterly earnings results on Wednesday, January 29th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Blue Foundry Bancorp had a negative net margin of 13.65% and a negative return on equity of 3.45%. On average, equities research analysts expect that Blue Foundry Bancorp will post -0.47 earnings per share for the current year.

Institutional Trading of Blue Foundry Bancorp

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Blue Foundry Bancorp in the fourth quarter valued at about $27,000. R Squared Ltd acquired a new stake in Blue Foundry Bancorp in the 4th quarter worth about $34,000. FMR LLC boosted its holdings in Blue Foundry Bancorp by 72.3% in the 3rd quarter. FMR LLC now owns 6,482 shares of the company’s stock valued at $66,000 after purchasing an additional 2,720 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Blue Foundry Bancorp in the 3rd quarter valued at about $71,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Blue Foundry Bancorp during the 4th quarter worth approximately $108,000. 56.52% of the stock is owned by institutional investors and hedge funds.

Blue Foundry Bancorp Company Profile

Blue Foundry Bancorp operates as a bank holding company for Blue Foundry Bank, a savings bank that offers various banking products and services for individuals and businesses in the United States. The company offers saving, time, and non-interest bearing deposits; demand accounts; and loans, such as one-to-four family residential property, multi-family, residential real estate, non-residential real estate, consumer, construction, and commercial and industrial loans, as well as junior liens and home equity lines of credit.